Azerbaijan, Baku, April 2 / corr. Trend A.Akhundov /
The State Securities Committee (SSC) registered an issue prospectus of unsecured undocumented registered interest bonds of FinansLizinq for the total amount of 500,000 manat, an announcement of the Baku Stock Exchange (BSE) shared on Tuesday says.
The leasing company also applied to BSE for inclusion of its bonds on to the unquoted BSE list.
A thousand bonds with a par value of 500 manat each were released within the issue. Circulation term of securities is 720 days with an annual return of 14 per cent and an interest repayment period of 90 days. The underwriter is Texnika Kapital Menecment LLC.
According to the prospectus, allocation of the bonds will be conducted by public subscription at the Baku Stock Exchange.
This is the first placement of bonds in 2013 by Finans Lizinq Company being an active participant in the corporate bond market.
FinansLizinq passed state registration on April 2, 2007. Presently, about 16 Azerbaijani physical entities are shareholders. The majority part of the shares is owned by Azad Javadov and Tokay Shakhalizade (15.83 per cent), Mobil Sharifov (15.17 per cent) and Ibrahim Ibrahimov (10 per cent).
The official exchange rate for April 2 is 0.7846 AZN/USD.